Trade Minister Kim Hyun-chong (fourth from left in the front row) posed for a photo at the fifth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting on September 10 in Manila, the Philippines.
Trade Minister Kim met with his counterparts from 15 other participating nations in Asia Pacific to accelerate negotiations for the proposed regional free trade agreement (FTA). The RCEP is the only mega FTA under negotiations involving 16 nations the region including Korea, Japan, China, and 10 member states of the Association of Southeast Asian Nations (ASEAN).
Representatives of the participating countries agreed to step up negotiations to produce significant achievements this year, which celebrates the 50th anniversary of the founding of the ASEAN. They discussed how they could reach an agreement on key issues in core areas of the RCEP including trade in goods and services and investment.
At the event, Trade Minister Kim also encourage ministers of economy and trade in Asia Pacific countries to join the seventh ASEM (Asia-Europe Meeting) Economic Ministers’ Meeting, which the Ministry will host in Seoul on September 21 and 22.